Are my mortgage points limited?
For debt taken out after December 15, 2017, you can only deduct home mortgage interest on up to $750,000 ($375,000 if married filing separately) of that debt. For debt taken out on or before December 16, 2017, you can deduct interest on up to $1,000,000 ($500,000 if married filing separately) of that debt.
If these limits apply to you, your mortgage points are also limited.
To calculate your deductible mortgage points:
If you're taking the standard deduction, this does not apply to you and you can enter 0 as your excess points.
If these limits apply to you, your mortgage points are also limited.
To calculate your deductible mortgage points:
- Use Publication 936 to figure out your deductible home mortgage points amount.
- Include as your excess mortgage points the amount of mortgage points that would have been deductible this year if not for your limitation. Enter this as Excess Mortgage Interest on the Expenses for the Entire Home screen .
If you're taking the standard deduction, this does not apply to you and you can enter 0 as your excess points.
